Canada Becomes First G7 Country To Legalize Weed

Yesterday, October 17, 2018 cannabis became legal in Canada.

This is a historic move, one which puts our neighbor to the north in the company of Uruguay, as the only two counties in the world to have fully legalized the drug.

The anticipation of this legal market has kept investors all over the world on edge, and sent pot stocks soaring in the months leading up to yesterday's Oct. 17th start date.

Now that this adult use market is open for business, here are some important details you should know before you make your first purchase!

Bill C-45, also known as the "Cannabis Act", established the rules and regulations that govern the adult use market. Under the new laws you must be 19 to grow, buy, use or posses marijuana, unless you live in Quebec or Alberta, where the legal age is 18.

You may posses up to 30 grams of cannabis in public and are allowed to share that same amount without violating the law. At home, you may grow up to 4 plants, but the seeds must be licensed and come from a licensed supplier.

One of the most unique laws on the books allows you to make marijuana infused food edibles at home "provided that dangerous organic solvents are not used in making them."

In the beginning months of this newly established adult use market, customers will be able to buy marijuana seeds, marijuana plants, concentrate oil, dried cannabis and fresh cannabis from authorized stores. However, edibles will not be available for purchase until 2019.

In order to make sure that kids do not have access to marijuana, Bill C-45 also created two new laws aimed at preventing diversion and use of the drug by children.

The first, giving or selling cannabis to a youth, and the second, using a youth to commit a cannabis related offense. Both are now criminal offenses and punishable by a maximum of 14 years in prison.

This is definitely an exciting time in history. The world is watching and waiting to see Canada's success before following suit, and hopefully the United States will be next.

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